80% of the world lives on less than $10 per day. Cant really cry for people that are making $10 per hour then. Its come to be that people think they are poor if they dont have a car, cable TV, computer/internet, health insurance, and owning their own home. A walmart/mcdonalds job should not have to pay for those LUXURIES! And thats what they are, luxuries. If they want more out of life, study more and find better jobs. If those "poor" people suddenly go without all the things I mentioned, they quickly find they have alot more money in their pockets to save and put towards educating themselves into a better job. Some of you might say "What if they have kids?" Well here is how it breaks down... $10 per hour =$1,600 per month. This qualifies them for HUD, food stamps, child care assistance and discounted energy bills. This means they will have about $1,000 per month after paying all their living expenses. But most "poor" people will spend $300 per month on a car payment, $100 on car insurance, $200-$300 in gas, $150 on cable & internet, and then they cry "POOR!" $50 gets you a bus pass! Use the extra $950 to educated yourselves. Heck, making $10 per hour qualifies you for a pell grant which is enough to pay for all your books and classes at the local Community college AND give you money left over.
Due to outsourcing maybe the distribution went to divide the middle class over more countries, leading to a smaller middle class in USA, bigger middle class in China etc, and smaller poorer class in China, and bigger poorer class in USA.
Everyone keeps making assumptions "$10 per hour =$1,600 per month". 40 hrs a week is not an option. WMT, fast food does not employ people for 40 hr work weeks.There is no $1600 a month.. I think there is benefits law over 30 hrs a week, hence everyone is part time.hours. Over 30 hrs, they have to pay holidays, ot rate minimal health care. If two people get married and each work at one of these 10 an hour jobs, their income disqualifies the freebie gov benefits. -------------- I'm not advocating for higher wages, but the barrier to entry to middle class due to high cost of gov't regs and policies that prevent the working poor from affording a car, etc.
How does free market view products made with child labor in a country where child labor is legal, imported into a country where child labor is illegal? Unfair competition? Or the opposite?
This worked, 30 years ago. Since then, inflation due to a debt ponzi has eroded buying power of the poorest 20% by 1% per year. (30% buying power lost)
Unrestricted capitalism means most people will be poor. No middle class. No "bulge" in the wealth distribution, just a Pareto curve. That's what we all want, right?
Clearly the answer is for the unionization of all workers. Oh, and further development of the Democratic Party machine to emulate for the rest of the USA and duplicate the most corrupt city located in the most corrupt county located in the most corrupt state in America. Workers of the world, unite behind the Chicago Teachers Union ! "It may be playing hardball, or it could be, as one education expert described it, an "exorbitant offer" that ignores the district's growing financial constraints." Like insisting on a 30% pay raise for union teachers in the middle of a severe recession ? http://www.chicagotribune.com/news/education/ct-met-ctu-proposals-0217-20120217,0,6829485.story
As others have pointed out, poor is a relative term. As such, it is impossible to eradicate poverty. Just as it is to eliminate the bottom 10% of students or the bottom 10% of runners. Someone has to finish the race last. Someone has to be the slowest, someone has to be the fastest. It is all relative.
The funniest thing is when you hear the politicos use the phrase "Consumer-driven economy". By definition, that means "Demand-driven economy", because it is a growing, thriving customer-base that drives companies to expand and hire more. BUT THEN - you listen to what their solutions to the ailing economy are.... THAT'S the funny part....